HQ Team
May 28, 2025: Eli Lilly and Company will acquire SiteOne Therapeutics, Inc. for $1 billion to get access to an inhibitor that may cure chronic pain without using opioids.
SiteOne shareholders could receive up to $1 billion in cash, inclusive of an upfront payment and subsequent payments upon achievement of certain regulatory and commercial milestones, according to a Lilly statement.
The inhibitor, called STC-004, which belongs to a class of Nav1.8 inhibitors, is currently entering mid-stage trials. It is a small molecule that slows down, stops, or prevents a particular process, reaction, or function.
Generally, inhibitors include chemical reactions, enzyme activity, metabolic processes, or physiological functions within the body.
‘Next generation’
The STC-004 inhibits sodium channels to treat pain and other neuronal hyperexcitability disorders, according to the statement. It may represent a “next-generation, non-opioid treatment for patients suffering from chronic pain.”
Some prescription opioids are made directly from the poppy plant, where it is found naturally, and others are made by scientists in labs using the same chemical structure.
Prescription opioids are used mostly to treat moderate to severe pain, though some opioids can be used to treat coughing and diarrhoea.
Opioids are often used as medicines because they contain chemicals that relax the body and can relieve pain.
Their usage can be dangerous because they can be highly addictive, and overdoses and death are common. Heroin is one of the world’s most dangerous opioids, and is never used as a medicine in the United States.
Hyperexcitability disorders
“The global burden of chronic pain continues to increase, and an effective non-opioid treatment remains elusive,” said Mark Mintun, Lilly group vice president, Neuroscience Research and Development.
“Lilly is eager to continue the development of STC-004 with the outstanding SiteOne team as part of our efforts to advance novel, addiction-free pain therapies. Innovation in pain management is critical to address the unmet needs of millions of patients around the world.”
SiteOne develops safe, effective, non-opioid therapies for patients suffering from pain and other sensory hyperexcitability disorders, said John Mulcahy, PhD, chief executive officer and cofounder of SiteOne Therapeutics.
‘Full potential’
“We believe their (Lilly’s) global capabilities and neuroscience leadership will accelerate our efforts to realise the full potential of STC-004 and our broader platform.”
Hyperexcitability disorders encompass a group of conditions characterised by increased nerve or muscle excitability, leading to various symptoms like muscle twitching, cramps, and spasms.
For Lilly, J.P. Morgan Securities LLC is acting as exclusive financial advisor, and Jones Day is acting as legal counsel.
